Calculating fair default charges in credit card contracts
A statement of the CMA's position on calculating fair default charges in credit card contracts.
Ref: OFT842 PDF, 203KB, 36 pages
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This guidance was originally published by the Office of Fair Trading (OFT) and has been adopted by the CMA Board. The original text has been retained unamended, therefore it does not reflect or take account of developments in case law, legislation or practice since its original publication.
Please also note:
- all references must be read in the light of Consumer Protection: Guidance on the CMA’s approach to use of its consumer powers (CMA7); in the case of conflict, CMA7 prevails
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